Algonquin College Gets Greener, Saves Money with Siemens Canada

20 year deal will create energy savings of $3.7 million per year once
all phases completed.

OTTAWA, Jan. 21, 2014 /CNW/ - A recently signed 20-year Energy Services
Contract (ESCO) between Algonquin College and Siemens Canada means
Algonquin College'sOttawa campus will use less energy and produce
fewer greenhouse gas emissions, cut its non-critical maintenance debt
(also known as 'deferred maintenance') by up to one-half, and provide
new research opportunities for Algonquin College students.

"It gives me great pleasure to sign this landmark agreement, which we
believe to be an innovative guaranteed energy savings contract," says
Algonquin College President Kent MacDonald. "When we issued the Request
for Proposals, we had a goal of making our Ottawa campus more energy
and water efficient, reducing our greenhouse gas emissions, and
creating new, sustainability-related applied research opportunities for
our students. This project will do all this, and more. We are thankful
for the long-standing relationship between Siemens and Algonquin, and
the innovative and creative minds at Siemens who have made this
agreement possible."

"Siemens and Algonquin College have been working together on a variety
of projects for the past 25 years, and we are pleased to be selected as
Algonquin's partner for this Energy Services Contract," says Robert
Hardt, President and CEO, Siemens Canada. "This contract will showcase
how Siemens' innovative and sustainable building technology solutions
drive economical and ecological sustainability, while also furthering
learning opportunities for Algonquin College students. We look forward
to collaborating with Algonquin to the mutual benefit of all
stakeholders and the environment."

This ESCO project is the second energy performance savings contract for
Algonquin College, with this project branded as "ESCO 2". It is of a
larger scale than the first undertaking in 2007. This multi-phase
project is examining renewable energy opportunities, power generation
retrofits, and various other energy efficient renovations with a target
of projected energy savings and revenue of $3.7m annually once all
phases have been completed. The first phase contracted to Siemens will
offer an estimated annual savings of close to a million dollars. These
savings will be used to pay for the renovations that Siemens is
installing. These upgrades will clear up as much as 50% of Algonquin
College's current deferred maintenance, and consolidate several
mechanical rooms that are spread across many older buildings. The power
generation elements of the project have the potential to offer the
College significant advantages, energy self-sufficiency and risk
management in the event of a power outage.

Energy savings will also be generated through College-wide
sustainability education and awareness activity coordinated by a
Siemens Sustainability Coordinator resource, working closely with the
College's Sustainable Algonquin Steering Committee over a five-year
term. The majority of upgrades will be carried out through non-peak
periods over the next two years to minimize disruption to classes and
normal College activities.

About Algonquin College - www.algonquincollege.com:Algonquin College of Applied Arts and Technology is located in the
nation's capital and the Ottawa Valley, and is the largest college in
Eastern Ontario, with 18,000 full-time and 36,000 part-time students in
more than 180 programs. Algonquin is a leader in the integration of
technology into learning, and is strongly committed to student success.

About Siemens Canada - www.siemens.ca:
For more than 100 years the innovative ideas from Siemens have helped
make Canada a better place. From the Atlantic to Pacific oceans, more
than 4,500 employees in Canada work together to provide answers that
last in the fields of industry, energy, healthcare and infrastructure
solutions for cities. Since it was federally chartered in 1912, Siemens
has stood for technical achievements, innovation, quality and
reliability. Sales for Siemens in Canada in fiscal 2013 (ended
September 30), were $2.0 billion CAD. The company has 46 offices and 13
manufacturing/assembly facilities across Canada.

This press release may contain forward-looking statements based on the
beliefs of the management of Siemens Canada Limited and its affiliates.
The words "anticipate," "believe," "estimate," "forecast," "expect,"
"intend," "plan," "should," and "project," are used to identify
forward-looking statements. Such statements reflect the management's
current views with respect to future events and are subject to risks
and uncertainties. Many factors could cause the actual results to be
materially different, among others, changes in general economic and
business conditions, changes in currency exchange rate and interest
rates, introduction of competing products, lack of acceptance of new
products or services and changes in business strategy. Actual results
may vary materially from those projected here. Siemens Canada Limited
and its affiliates do not intend or assume any obligation to update
these forward-looking statements.

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